Spotify is a video, podcast, and music streaming freemium service which offers free streaming of rights managed-protected material in its free plan. While additional features like improved streaming quality and music download are available to users who opt and pay for their selected monthly or yearly subscription packages. Music industry’s revenue has a bigger part of Spotify’s contribution in it. One cannot ignore Spotify when talking about online music streaming. Spotify has attracted millions of subscribers by its free service and then pay for their favourite music. Though Spotify hasn’t covered many countries, Spotify business model has been succeeded in comparison of many other online music streaming applications.
Spotify was launched in 2008 in Sweden as music, podcast, and video streaming freemium service. Spotify uses a freemium model strategy to make money through paid subscription and advertising. Like Youtube and MailChimp, Their main revenue sources are premium subscriptions where they provide unlimited downloads and no advertisement. In premium subscription, they increased song bitrates to 320 kbps.
What is Spotify?
Spotify is an online music streaming application, which works on a freemium business model. Spotify provides free music, podcast, and video streaming and improved podcast quality as well as advertisement free and unlimited download services to their premium subscribers. Spotify has introduced 3 different types of versions.
This is the basic version among all versions. In this free version, a user can use in general all the contents but its use is limited. And it includes lots of advertisement and there is no option to listen to the song while one is offline. And there are also limitations on the quality of the songs you play. So basically, Spotify’s free version offers limited access to its services.
2-Spotify premium version
This is the premium version of the application as its name suggests. This version is priced at $9.99 per month. And in return, it offers limitation free access to its services. Moreover, there are no advertisement to disturb the user and no quality compromise!
3-Spotify family version
If there is more than one person in the family wants to use the Spotify services, instead of Spotify premium, they can use the Spotify family version. They introduced this plan in October 2014. As this version provides all the premium features to up to 6 people living at the same address. And for this service, they charge $14.99 per month. And every member gets their own account and so, there is no need of sharing their playlist. Moreover, taking a family subscription reduces the total cost of Spotify Premium. Which is fare enough deal!!??
